Freeport-McMoRan Inc., North America’s leading copper producer, is profiting from the threat of US tariffs on copper imports by selling the metal at a premium. The tariff threat has driven copper prices in the US above levels seen in other markets. In April, the company reported that a 13% price premium could generate approximately US$800 million in annual revenue.

However, CEO Kathleen Quirk warned that broader tariffs and trade tensions could slow global economic growth and reduce copper demand. Freeport, which accounts for about 70% of processed US copper, operates seven open-pit mines and a smelter domestically.

President Donald Trump has ordered an investigation into foreign copper imports under Section 232 of the Trade Expansion Act, which grants the president broad authority to impose import restrictions on national security grounds. Copper is widely used across key industries, including automotive, electronics, and construction.